...STUDIES OF INVENTORY CONTROL AND CAPACITY PLANNING WITH MULTIPLE SOURCES A Dissertation Presented to The Academic Faculty By Frederick Craig Zahrn In Partial Fulfillment Of the Requirements for the Degree Doctor of Philosophy in Industrial Engineering Georgia Institute of Technology August 2009 STUDIES OF INVENTORY CONTROL AND CAPACITY PLANNING WITH MULTIPLE SOURCES Approved by: Dr. Shi-Jie Deng, Advisor School of Industrial and Systems Engineering Georgia Institute of Technology Dr. John H. Vande Vate, Advisor School of Industrial and Systems Engineering Georgia Institute of Technology Dr. Hayriye Ayhan School of Industrial and Systems Engineering Georgia Institute of Technology Dr. Mark E. Ferguson College of Management Georgia Institute of Technology Dr. Anton J. Kleywegt School of Industrial and Systems Engineering Georgia Institute of Technology Date Approved: July 6, 2009 ACKNOWLEDGMENTS I thank my advisors, Dr. Shi-Jie Deng and Dr. John H. Vande Vate, for their guidance of my research. I am particularly indebted to them—Prof. Vande Vate especially— for technical and expository advice in the portion of the dissertation on capacity planning. I also thank Dr. R. Gary Parker for his support of my graduate studies. iii TABLE OF CONTENTS Acknowledgments iii Summary v Chapter 1: Average optimal control in an inventory model with multiple sources 1.1 Introduction . . . . . . . . . . . . . . ....
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...Teaching the Costs of Uncoordinated ; Supply Chains Charles L. Munson • Jianli Hu College of Business and Economics, Washington State University, PO Box 644736, Pullman, Washington 99164-4736 munson@'ivsu.edu • hu@mail.wsu.edu , Meir J. Rosenblatt (deceased) formerly Professor at Washington University in St. Louis, Missouri, and Technion—Israel Institute of Technology This paper was refereed. Supply-chain management has become a prominent area for teaching and research. Academics and managers realize that communication and coordination among members of a supply chain enhance its effectiveness, creating financial benefits to be shared by the members. We have collected numerical examples covering (1) location decisions, (2) centralized warehousing, (3) lot sizing with deterministic demand, (4) demand forecasting, (5) pricing, and (6) lot sizing with stochastic demand in a newsvendor environment. The examples are suitable for classroom use, and they illuminate the rewards supply-chain members can obtain by eliminating naturally occurring supply-chain inefficiencies and the costs of not doing so. {Professional: OR/MS education. Supply-chain management.) hen each member of a group tries to maximize his or her own benefit without regard to the impact on other members of the group, the overall effectiveness of the group may suffer. Such inefficiencies often creep in when rational members of supply chains optimize individually instead of coordinating their efforts. Nowadays...
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...This article was downloaded by: [123.255.73.85] On: 02 November 2013, At: 21:59 Publisher: Institute for Operations Research and the Management Sciences (INFORMS) INFORMS is located in Maryland, USA Operations Research Publication details, including instructions for authors and subscription information: http://pubsonline.informs.org Inventory Management of a Fast-Fashion Retail Network Felipe Caro, Jérémie Gallien, To cite this article: Felipe Caro, Jérémie Gallien, (2010) Inventory Management of a Fast-Fashion Retail Network. Operations Research 58(2):257-273. http://dx.doi.org/10.1287/opre.1090.0698 Full terms and conditions of use: http://pubsonline.informs.org/page/terms-and-conditions This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher approval. For more information, contact permissions@informs.org. The Publisher does not warrant or guarantee the article’s accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement. Descriptions of, or references to, products or publications, or inclusion of an advertisement in this article, neither constitutes nor implies a guarantee, endorsement, or support of claims made of that product, publication, or service. Copyright © 2010, INFORMS Please scroll down for article—it is on subsequent pages INFORMS is the largest professional...
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...Inventory Management is a necessary Evil General Area: Supply Chain Management (SCM) Problem Area: Inventory Management a necessary Evil Ravi Kumar PGP/17/108 Email: ravik17@iimk.ac.in Indian Institute of Management, Kozhikode Abstract This article tries to explore how inventory management is one of the integral part of various business units in today’s business world. There are many modeling techniques available in Inventory management evolving very rapidly over a period of time, which can be used for performing different functions of meeting the customer satisfaction and helping the firms to achieve highly efficient SCM and in turn increase their profit margin. Not just that Inventory management systems have capability of meeting the uncertainty of demand by providing planned and effective way countering these uncertainties. This articles also discuss the critical point of inventory being a necessary evil i.e. with inventory firms have to bear certain cost but without it they can’t beat the demand uncertainties. The current models available however have discussed various issues related with the inventory management in real world but models are evolving to get rid of obsolescence and be competitive. There is lot of potential locked up in these models which can change the way managements make decisions in today’s world. Thus there is scope for applying systems thinking methodology this area and bring out synergies in different applications of Inventory management...
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...Stats/Modelling Notes Introduction & Summary Computer system users, administrators, and designers usually have a goal of highest performance at lowest cost. Modeling and simulation of system design trade off is good preparation for design and engineering decisions in real world jobs. In this Web site we study computer systems modeling and simulation. We need a proper knowledge of both the techniques of simulation modeling and the simulated systems themselves. The scenario described above is but one situation where computer simulation can be effectively used. In addition to its use as a tool to better understand and optimize performance and/or reliability of systems, simulation is also extensively used to verify the correctness of designs. Most if not all digital integrated circuits manufactured today are first extensively simulated before they are manufactured to identify and correct design errors. Simulation early in the design cycle is important because the cost to repair mistakes increases dramatically the later in the product life cycle that the error is detected. Another important application of simulation is in developing "virtual environments" , e.g., for training. Analogous to the holodeck in the popular science-fiction television program Star Trek, simulations generate dynamic environments with which users can interact "as if they were really there." Such simulations are used extensively today to train military personnel for battlefield situations, at a fraction...
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...Second Year - Third Semester 3.0.1 International Business - University Assessment 100 Marks Course Content 1. Overview of the International Business Process 2. PEST factors affecting International Business 3. Government influence on trade 4. International Trade Theories 5. FDI 6. Country Evaluation and Selection 7. Collaborative Strategies 8. International Marketing 9. International Trade Agreements 10. International Trade Organizations 11. Forex 12. International HR Strategies 13. International Diplomacy Reference Text 1. International Business – Daniels and Radebough 2. International Business – Sundaram and Black 3. International Business – Roebuck and Simon 4. International Business – Charles Hill 5. International Business – Subba Rao 3.0.2 Strategic management 100 Marks Course Content 1. Strategic Management Process: Vision, Mission, Goal, Philosophy, Policies of an Organization. 2. Strategy, Strategy as planned action, Its importance, Process and advantages of planning Strategic v/s Operational Planning. 3. Decision making and problem solving, Categories of problems, Problem solving skill, Group decision making, Phases indecision making. 4. Communication, Commitment and performance, Role of the leader, Manager v/s Leader, Leadership styles. 5. Conventional Strategic Management v/s Unconventional Strategic Management, The differences, Changed Circumstance 6. Growth Accelerators: Business Web, Market Power, Learning based. 7. Management Control, Elements,...
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...This page intentionally left blank R E V I S E D T H I R T E E N T H E D I T I O N AN INTRODUCTION TO MANAGEMENT SCIENCE QUANTITATIVE APPROACHES TO DECISION MAKING David R. Anderson University of Cincinnati Dennis J. Sweeney University of Cincinnati Thomas A. Williams Rochester Institute of Technology Jeffrey D. Camm University of Cincinnati Kipp Martin University of Chicago Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States This is an electronic version of the print textbook. Due to electronic rights restrictions, some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable information on pricing, previous editions, changes to current editions, and alternate formats, please visit www.cengage.com/highered to search by ISBN#, author, title, or keyword for materials in your areas of interest. An Introduction to Management Science: Quantitative Approaches to Decision Making, Revised Thirteenth Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, & Kipp Martin VP/Editorial Director: Jack W. Calhoun Publisher: Joe Sabatino Senior Acquisitions Editor: Charles McCormick, Jr. Developmental Editor: Maggie Kubale Editorial Assistant:...
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...Statistical Methods in Credit Risk Modeling by Aijun Zhang A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy (Statistics) in The University of Michigan 2009 Doctoral Committee: Professor Vijayan N. Nair, Co-Chair Agus Sudjianto, Co-Chair, Bank of America Professor Tailen Hsing Associate Professor Jionghua Jin Associate Professor Ji Zhu c Aijun Zhang 2009 All Rights Reserved To my elementary school, high school and university teachers ii ACKNOWLEDGEMENTS First of all, I would express my gratitude to my advisor Prof. Vijay Nair for guiding me during the entire PhD research. I appreciate his inspiration, encouragement and protection through these valuable years at the University of Michigan. I am thankful to Julian Faraway for his encouragement during the first years of my PhD journey. I would also like to thank Ji Zhu, Judy Jin and Tailen Hsing for serving on my doctoral committee and helpful discussions on this thesis and other research works. I am grateful to Dr. Agus Sudjianto, my co-advisor from Bank of America, for giving me the opportunity to work with him during the summers of 2006 and 2007 and for offering me a full-time position. I appreciate his guidance, active support and his many illuminating ideas. I would also like to thank Tony Nobili, Mike Bonn, Ruilong He, Shelly Ennis, Xuejun Zhou, Arun Pinto, and others I first met in 2006 at the Bank. They all persuaded me to jump into the...
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...2 Value Chain Management The theoretical background is defined around the central term value chain. Chapter 2 presents research concepts to manage the value chain structured by their area of specialization either on supply, demand or values. Secondly, within an integrated framework, the results of the specialized disciplines are combined with the objective to manage sales and supply by values and volume. Value chain management is defined and positioned with respect to other authors’ definitions. A value chain management framework is established with a strategy process on the strategic level, a planning process on the tactical level and operations processes on the operational level. These management levels are detailed and interfaces between the levels are defined. Since the considered problem is a planning problem, the framework serves for structuring planning requirements as well as the model development in the following chapters. 2.1 Value Chain Value chain as a term was created by Porter (1985), pp. 33-40. A value chain “disaggregates a firm into its strategically relevant activities in order to understand the behavior of costs and the existing and potential sources of differentiation”. Porter’s value chain consists of a “set of activities that are performed to design, produce and market, deliver and support its product”. Porter distinguishes between • primary activities: inbound logistics, operations, outbound logistics, marketing and sales, service in the core value...
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...Forum TCS - Retail Journal July 2015 | Issue 6 Omni-Channel Supply Chain: From Backend to Forefront Foreword Pratik Pal President & Global Head Retail, CPG, Travel, Transportation & Hospitality Welcome to the sixth edition of Forum, the TCS Retail Thought Leadership journal. In this issue, we present our perspective on the changes shaping the supply chain of tomorrow. Retailers all over the world are making the transition from multichannel to omni-channel. The key to delivering the ‘order anywhere, fulfill anywhere’ promise is the supply chain. Supply chain is poised to become the key influencer of the interconnected customer experience. Based on my interactions with leading retailers across the world, it is my view that the battle for omni-channel supremacy will be fought and won on the grounds of supply chain. Retailers across the world are focused on re-architecting and recalibrating their supply chains while maintaining the delicate balance between customer experience and profitability. While earlier, significant investments were directed toward digital customer engagement, in the times ahead, investments will predominantly focus on supply chain re-imagination. In this edition, we discuss the prominent challenges and the response needed across key areas spanning the entire value chain as well as the building blocks for enabling omni-channel supply chain. The ‘plan-buy-make–move–sell’ value chain is no more linear. While the ’sell’ component of...
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...Praise for Supply Chain Network Design “Due to the significant impact that supply chain design has on the cost and service provided by a company, it is critical that managers be knowledgeable about how to optimize the flow of products and goods within their supply chain. This book takes a very technical subject and makes it possible for managers and students alike to understand all aspects of network design. The practical approach used in discussing topics throughout the book provides a clear and excellent framework for those seeking to learn more about the topic. The book is a needed and welcome contribution to the profession.” —Dr. Mary C. Holcomb, Associate Professor of Logistics, Department of Marketing and Supply Chain Management, College of Business Administration, University of Tennessee “Supply chain management (SCM) is a rapidly growing area of study—and network design is one of the fastest growing areas within SCM. This book would make a great classroom textbook. It is easy to follow with clear examples and useful exercises. It is laid out in progressive layers, with one’s understanding of the subject matter building as you go. You can stop midway and be comfortable with the fundamentals, or you can go as deep as desired into Supply Chain Network Design. “I have been a long-time practitioner of network modeling, as a manager in business and as a consultant, and I have covered the topic in university lectures; I still learned a great deal about a subject I thought I...
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...Layout 5. Facility Location 6. Production Planning System Viz Capacity Planning Operation Management Sheduling Etc. 7. Inventory Management 8. Model of Supply Chain Management Being Following Brief History of the Company The Business That Became the Bata Shoe Organization Was Established On August 24, 1894 In Zlin, Czechoslovakia by Tomas Bata, And Included His Brother Antonin and Sister Anna. Although This Business Was New, The Bata Name Had Been Part of a Tradition of Shoemaking for Eight Generations, Spanning Three Hundred Years. It Was One of the First Modern Day Shoe ‘manufacturers’ , A Team of Snitchers and Shoemakers Creating Footwear Not Just for the Local Town , But Also for the Distant Retail Merchants. This Departure From the Centuries Old Tradition of the One Man Cobbler’s Workshop Was a Brand New Concept, Creating an Entirely New Industry. The Bata Enterprise Revolutionized the Treatment of Employees and Labor Conditions. Tomas Consistently Maintained a Human Focus, Creating Opportunities for Development and Advancement, And Added Compensation for Employees Based On Achievement. In Late 1985. Antonin Was Drafted Into the Army for Compulsory Military Service and Lift Family Shoe Business. Also That Year, Anna Left the Company to Marry, Leaving a Young Tomas to Build the Business On His Own. By 1905 Tomas Had Taken the New Enterprise to 2200 Pairs of Shoes Per Day , Produced by 250 Employees – Utilizing Resourceful Imaginations...
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...Information Sharing in Supply Chains: An Empirical and Theoretical Valuation Ruomeng Cui, Gad Allon, Achal Bassamboo, Jan A. Van Mieghem* Kellogg School of Management, Northwestern University, Evanston, IL April 10, 2013 We provide an empirical and theoretical assessment of the value of information sharing in a two-stage supply chain. The value of downstream sales information to the upstream firm stems from improving upstream order fulfillment forecast accuracy. Such improvement can lead to lower safety stock and better service. According to recent theoretical work, the value of information sharing is zero under a large spectrum of parameters. Based on the data collected from a CPG company, however, we empirically show that if the company includes the downstream demand data to forecast orders, the mean squared error percentage improvement ranges from 7.1% to 81.1% in out-of-sample tests. Thus, there is a discrepancy between the empirical results and existing literature: the empirical value of information sharing is positive even when the literature predicts zero value. While the literature assumes that the decision maker strictly adheres to a given inventory policy, our model allows him to deviate, accounting for private information held by the decision maker, yet unobservable to the econometrician. This turns out to reconcile our empirical findings with the literature. These “decision deviations” lead to information losses in the order process, resulting in strictly positive...
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...Retail Location Analysis: A Case Study of Burger King & McDonald’s in Portage & Summit Counties, Ohio A thesis submitted to the College of Arts of Kent State University in partial fulfillment of the requirements for the degree of Masters of Arts by Niti Duggal December, 2007 Thesis written by Niti Duggal B.A. (Hons), University of Delhi, India 1996 M.A., Jawaharlal Nehru University, New Delhi, India 1998 MPhil, Jawaharlal Nehru University, New Delhi, India 2001 M.A., Kent State University, 2007 Approved by ____________________________________, Advisor Dr. Jay Lee ____________________________________, Chair, Department of Geography Dr. Jay Lee ____________________________________, Dean, College of Arts and Sciences Dr. Jerry Feezel ii Table of Contents Table of Contents ……………………………………………………………….. iii List of Maps and Figures …………………………………………….………….. v List of Tables …………………………………………………………………… viii Acknowledgments ……………………………………………………………… ix Chapter 1: Introduction …………………………………………………………..…… 1 1.1 Research Objectives ............................................................................ 2 1.2 Summary …………………………………………………..…..……. 4 2: Problem Statements ………………………………………………...……. 6 2.1 Size and Shape of the Retail Trade Area………….……………....…. 6 2.2 Summary………………………………………..………………...….. 9 3: Literature Review ………………………………………………………… 11 3.1 GIS for Business and service Sector Planning ……………………….11 3.2 GIS as a Tool for Retail Location Decisions………………………...
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...513–518, 523–533, 653–657 Investing with risk aversion 557–560 Land purchasing decision 575 Risk analysis 582–583 Liquidity risk management 651–653 Estimating warranty costs 657–661 Retirement planning 681–685 Modeling stock prices 685–686 Pricing options 686–689, 691–693 Investing for college 732 Bond investment 733 HUMAN RESOURCES AND HEALTH CARE Fighting HIV/AIDS 23–24 DEA in the hospital industry 184–189 Salesforce allocation problems 454–456 Assigning MBA students to teams 462 Selecting a job 484–492 Selecting a health care plan 519–521 Drug testing for athletes 535–538, 539–542 MARKETING Determining an advertising schedule 133–141, 373–376, 465–471, 480–483 Estimating an advertising response function 369–373 Retail pricing 422–427 Estimating a sales response function 437–441 Cluster analysis of large cities 445–449 Classifying subscribers of the WSJ 450–453 New...
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